Globalization

Over the years living conditions around the world have improved, even in the poorest of countries. Despite this there is still a clear difference between high-income countries and low-income countries. High-income countries are defined as countries with very productive economic systems where the majority of people have fairly high incomes, while low-income countries are defineed as having low economic systems where most people are poor and many do not meet living standards (Macionis et al., 2005, pg 439). Even though poverty can be found all over the world citizens in low-income countries are living in absolute poverty rather than relative poverty

Globalization is the process by which regional economies, societies, and cultures have become integrated through a global network by transportation, communication, and trade. Through a global lens the process of globalization seems to be vital to the development of the modern world. As a result of globalization there has been a dramatic transition in every aspect of life around the world, more specifically in areas such as trade, immigration, and human development. International trade bolsters sales, lowers the cost of production and consumption, and extends the market reach of any corporation. This is beneficial to America in that consumers are able to buy more goods and services at lower costs and therefore the gross domestic product

Globalisation is expressed in transcontinental flows and networks of activity, interaction and power between countries, irrespective of geographic distance. It establishes and maintains economic, political and socio-cultural relations. This interaction helps economies through growth in international trade, investment and capital flows. Some factors that have acted as the driving force of globalisation include technological innovation as it had made transport and communication around the world easier, capitalism and trade have also played an important role in encouraging globalisation. Trade

“Income inequality has no necessary connection with poverty, the lack of material resources for a decent life, such as adequate food, shelter, and clothing. A society with great income inequality may have no poor people, and a society with no income inequality may have nothing but poor people” - Robert Higgs. When people think of income inequality they picture poverty and people not having basic necessities. However income inequality is not just a connection to the poor. Income inequality is strongly affected by education attainment, technology, and gender.

No matter which country you would look into whether it’s from wealthier to those less wealthy countries through the eyes of economics, there are bound to be types of inequity within their borders. Inequity is a very crucial problem in the United States, you would think that our economy here in the states is booming, and the citizens are living life easy or without worry. Life is the United States isn’t as it seems, in fact, Inequity is in fact a big problem even in the United States. Over the years, there has been millions of Americans that were considered to be in poor or in poverty line that are not able to provide for themselves and their families. We can sadly see those Americans on the streets, cars or shelters unable to keep-ends

In developed nations income inequality has also drastically increased. For instance just recently in the United States, the richest americans (the top 1%) made 19.3% of all the United States income, which is the most drastic income gap since the twenties. “The top 1 percent of U.S. earners collected 19.3 percent of household income in 2012, their largest share in Internal Revenue Service figures going back a century” (Paul Wiseman). Both developed and developing nations are having major issues dealing with income

Inequality is a very concerning issue that affects millions of individuals worldwide. There are many forms of inequality but only two disciplines which include economic and social inequality. Both these forms describe the unequal distribution of resources among individuals in a group, among groups in a population, or among some countries. Between the two, economic inequality is the one more focused towards the business world. Economic inequality is the unequal distribution of income or wealth which can also be referred to as income inequality. This form is often associated with income fairness and is generally considered unfair due to the large differences between the high class individuals and the middle and lower class individuals. Income

In 1920 American women were allowed to vote. While in Papa New Guinea people were trying to find a more efficient way of farming. This shows just how unequal our world is. So what causes inequality? The cause of inequality is due to geography. Farming and domesticated animals is where the problem started. After domesticated animals, came steel leading to the exposure of germs. For a civilization to succeed it needs a steady source of crops, domesticated animals, production of steel, and early exposure to germs.

Statistics shows that almost half of the world that’s over three billion people live on less than $2.50 a day and at least 80% of humanity lives on less than $10 a day but more than 80 percent of the world's population lives in countries where income differentials are widening. Currently, the poorest 40% of world’s population hold 5% of the global income and the richest 20% holds three quarter of world’s income. Economic inequality which is the gap between poor and rich contains of disparities in the distribution of wealth and

Income Inequality means the uneven income is distributed among individuals in a company, groups in a population, or countries in the world. “One-fourth of American employees make less than $10 per hour, which is the income that below the Federal poverty level” (Amadeo). Those are the people like cashier, waiters, or fast food clerks. There is a huge gap between rich people and poor people. The rich people are getting richer while the poor people are getting poorer. This is a serious economic challenge that the United States has been facing for a long time period.

Potential reasons for income inequality in the economy has to do with several aspects. Education has a lot to do with income inequality. Employers are looking at a person’s level of education to determine what pay (non-salary or salaried) they should receive. That’s where the impact comes in to play for income because there is a lot of people who or not determined nor have the personal ability to get an education although it is free. Employers are no longer looking at the amount of experience that you have, but more so what level of education to have obtained. Yes, it’s easy to find a job if you’re are motivated, but that’s not the issue the issue is not receiving the pay that’s even worth working for. Another reason for income in equality

Globalization is taking place across the world where people can either become globalization or stay local in the state or country. People are very controversial about globalization helping local economies and local businesses. Some people believe globalization is helping local businesses into the markets and then there are some that believe that multinational corporations hurting the local small businesses. What is globalization? “the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets” (). Globalization has started long before we were born.

Global inequality is one of today’s most prevalent issues with 40% of the world’s population living in poverty. Poverty is qualitatively defined as being extremely poor. It is quantitatively defined as living under $2.00 each day by the United Nations. One-sixth of the world population or 877 million people live in extreme poverty defined as living under $1.00 a day. This definition leaves out a large bracket of the world because living under 5$ or even 10$ a day can be considered extreme poverty. The Gini Index developed by the world bank provides a global picture of inequality by comparing per capita gross income of the world’s economies and classifies countries as high income, upper middle income, lower middle income, or low income. According to the Gini index, the gap between rich and poor countries has grown in recent years and continues to widen. Although the index provides a comparison of country averages it does not take into account inequality within countries. Therefore, we can assume most of the world is actually living in poverty and many definitions or statistics on global poverty should be taken lightly because certain countries do no have means to quantify each household income.

The Merriam-Webster dictionary defines Globalization as “the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets”. In other words, developing and integrating an economy, often by using cheap foreign labor; it is also often associated with a free trade economy. You can find many examples in almost all areas of air travel - airplane production, airport development, finding routes and making maps, and air travel itself.

Economic globalization has become the most important feature and a general trend of present world economic development. Globalization is a phenomenon and also a process of development of mankind and human society (Hamilton, 2008). It is the essential feature of the modern age. Globalization is the cross-border flows of capital and goods, including capital, labour, technology and natural resources (Bożyk, Misala & Puławski, 2002). Economic globalization is a historical process, and the germination of it could date back to the 16th century. After the industrial revolution, capitalist commodity economy, modern industry and transportation have been developing rapidly. The world market was fast expanded and the foreign trade was